How much for a commercial valuation?

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We've just been quoted £2,000 plus VAT for a property worth about £150k. It's a shop with a flat above (we rent out both) and we have. Commercial mortgage on it (as opposed to a regular BTL).

This isn't a new purchase, the mortgage company is exercising their right to get the properties re-valued periodically to check the LTV ratio is still within their tolerances.

It seems a crazy amount of money so I'm hoping someone has just had one done recently for about 50p

You could get a commerical auctioneer to come and give you a sales valuation for free. Most estate agencies don't specialise in commercial property but, if you dig around, you'll find one who has a commercial manager locked in a back room who, likewise, will come out and give you a sales valuation for free and might give you a more formal one for a few hundred. Likewise, surveyors will do it for less than £2000 I imagine.

The charges on all non-residential mortgages are horrifying these days - banks see it as an easy way of making a buck.

The trouble is, your mortgage contract probably says the mortgage company has the right to choose the valuer and charge you what they like... :(

Yes, they have a panel who are all big national players with no branches near by. I just called a local surveyor and got a quote for £450 plus VAT, but I don't know if I'll be allowed to use them.

And people wonder why renting is so expensive